Thermax gains on inking pact with Flowtech Co to manufacture poly carboxylate ether products

Thermax rose 1.24% to Rs 3,554.15 after the company has entered into license and technical assistance agreement with Flowtech Co, South Korea (Licensor) to manufacture poly carboxylate ether products.

The company entered into agreement to obtain technology to manufacture poly carboxylate ether products to strengthen its construction chemicals business portfolio.

Lock in period of the agreement is 4 years. The total consideration will be $300,000, 50% will be adjusted against royalty payment and balance as refundable deposit till agreement period.

Thermax, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and Southeast Asia.

The companys consolidated net profit jumped 89.9% to Rs 238.84 crore on 13.4% increase in revenue from operations 2,324.36 crore in Q3 FY24 over Q3 FY23.

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